ASA - Procurement Role

Role Overview:

This role involves conducting concurrent review of procurement and vendor management processes for clients. The selected candidate will evaluate procurement controls, vendor lifecycle, contractual terms, payments and policy compliance, and will support implementation of corrective measures to strengthen internal controls. The position requires strong analytical skills and a sound understanding of procurement risks.

Key Responsibilities:

- Review purchase requisitions, sanctioning process, approvals and supporting documentation.

- Validate vendor onboarding, risk scoring, documentation completeness and changes in vendor master data.

- Evaluate sourcing and bidding processes, price benchmarking, and approval of selection decisions.

- Examine purchase orders, contracts and work orders for completeness, accuracy and policy alignment.

- Assess contract management activities including SLAs, service metrics, expiry/renewal management and penalty clauses.

- Scrutinise invoices for correctness, supporting evidence, duplicate billing checks and proper approval flow.

- Review payment workflows for accuracy, authorisation controls, timelines and regulatory compliance (including MSME norms).

- Identify policy deviations, contractual gaps, process lapses and vendor concentration risks.

- Assist in implementation of corrective actions including control enhancements, documentation improvements and remediation follow-ups.

- Prepare periodic review reports, quantify financial impacts, and track closure of action points with stakeholders.

Skills & Competencies:

- Good understanding of procurement lifecycle and vendor management controls.

- Awareness of regulatory guidelines applicable to outsourcing in financial entities.

- Working knowledge of key contract clauses (SLA, confidentiality, indemnity, penalty, renewal, KPIs).

- Strong analytical and documentation skills with ability to articulate observations clearly.

- Advanced MS Excel proficiency: exposure to IDEA/ACL/data analytics tools is advantageous.

- Ability to collaborate with internal and external stakeholders and manage deadlines independently.